T. Boone Pickens On Expanded Oil Drilling: "East Coast, West Coast, ANWR, Get It All"
photo by Madhav Pai
When Katie Couric allowed T. Boone Pickens to speak on CBS last week—I won't call it an interview as Couric didn't real probe any of Pickens' statements to any great degree—he admitted that The Pickens Plan isn't about greening the United State's energy supply per se, it's about energy independence. Fair enough, if the end result is a radical increase in renewable energy I can, to a certain degree, deal with differing motives for getting there. However, in a recent spot on The Situation Room, Pickens reveals that his oil drilling past sometimes still rises to the surface...Even if most of the time he says we can't drill our way to energy independence.
You can watch the video clip at Huffington Post, but here's the relevant question and answer:
Wolf Blitzer: "What about drilling offshore? There's a debate, as you know, McCain says, 'yes, go ahead and drill off the coast of Florida and California.' Obama says, 'No.' You're an oil man. What do you say?"
T. Boone Pickens: "OK. McCain says, 'OK off the east and west coast.' I say east, west coast and ANWR—get it all! To get off of foreign oil, that is the enemy...You're drilling and whatever you are able to find and put into the domestic system will help us."
Offshore, ANWR Will Be Too Little, Too Late
At risk of belaboring the point, the amount of oil contained in areas offshore in which drilling is now prohibited is so small that not only will it be at least ten years before it makes it into the domestic oil supply, but will only add 250,000 barrels a day to a current daily demand of 21 million barrels. Likewise, drilling in the Arctic National Wildlife Refuge would not add much either: perhaps a peak of 876,000 barrels per day, by 2025.
Even if both of these areas were fully exploited—ignoring entirely the environmental impacts—the U.S. would still have to import the vast majority of its petroleum. Neither will have any significant impact on reducing oil prices, or in increasing U.S. energy independence. If you want to simply make more money pumping oil from these areas, at least be honest about it. Don't keep feeding people the line that prohibitions on where oil companies can drill is the reason the U.S. has to import so much energy.
via :: The Huffington Post
T. Boone Pickens, Offshore Oil Drilling
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